Market Size of Shrink and Stretch Sleeve Labels Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.52 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Shrink & Stretch Sleeve Labels Market Analysis
The shrink and stretch sleeve labels market was valued at USD 10.37 billion in 2020 and is expected to reach USD 15.55 billion by 2026, at a CAGR of 6.52% over the forecast period 2021 - 2026. In the last couple of decades, the labeling and packaging industry has experienced extensive product innovation. Sleeve label is one of those innovative products that has continually gained traction in the packaging landscape. Sleeve labels are colorful wraparounds around containers creating a greater aesthetic appeal.
- These are basically of two types - Shrink Sleeve Labels and Stretch Sleeve Labels. Shrink Sleeve Labels Market are extremely popular in the market and has been readily accepted by the packaging industry. Shrink Sleeve Labels Market easily adapt to the shape of the container giving it higher product visibility and consumer appeal.
- Stretch sleeve labeling is ready-to-use and can easily conform to containers of different shapes. In addition to the characteristics of providing a greater aesthetic appeal, it is eco-friendly. Stretch labels come with zero adhesiveness or heat and rely only on their elasticity to hold the container's shape. As compared to the standard shrink sleeve technology, stretch Sleeve Labels are more cost-effective, and this is expected to positively impact its demand in the future.
- The downside to stretch sleeve labeling is that the application rate is much slower than shrink sleeve labeling, typically less than 150 containers per minute. Shrink sleeve labels are an ideal fit for container package labeling, where the product is generally packed at higher throughput rates of up to 800 containers per minute.
- Manufacturers in the process of prioritizing consumer expectations and constructing better end-user engagement focus on the advanced labeling of their products to maintain a competitive advantage. For instance, recently, Overnight Labels. Inc., a well-known label manufacturing company, introduced a range of craft beer labels comprising of shrink sleeves offering enhanced substrates, varnish, and graphics.
- Due to the outbreak of COVID-19, the supply chain is disrupted in packaging and labeling industry and has impacted the demand and supply of the products. However, governments across the globe have deemed food-related businesses essential, owing to which the demand for shrink and stretch sleeve labels market is expected to be steady during the period.
